A few comments to note from the performance tables …
ETF Performance Highlights
* The ETFS S-Net ITG Global Agri Business Fund (AGRI) is now the best performing ETF Securities equity ETF since the start of 2009, and the second best performer over the past 3 months. AGRI has outperformed the MSCI World by 24% over the past 3 months, rising by 10%. Agriculture’s low correlation to the business cycle and strong long term supply-demand fundamentals appear to be underpinning its strong performance.
* The gold miners ETF, AUCO, continues to trade at a substantial discount to the underlying gold price, with the AUCO:Gold price ratio 31% below its long run average (see chart in the attached document). Gold demand is likely to remain strong this year with high political, economic and financial uncertainty driving demand for safe haven assets and defensive themes.
* ETFS Energy ETFs – ETFS Stoxx 600 Oil and Gas (OILG) and ETFS Russell Global Coal (COAL) – made up 2 of the top 5 performing ETFS equity ETFs last week. Energy ETFs have found underlying price support recently, with a 13.5% rise in West Texas Intermediate spot oil prices last week. OILG is currently trading 28% below its long run average relative to West Texas Intermediate Oil prices, as shown in the chart in the attached document.
Source:ETFWorld.co.uk – ETFSecurities ltd
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